IAG also has interests in general insurance joint ventures in Malaysia and India. Standard & Poor’s has assigned a ‘Very Strong’ Insurer Financial Strength Rating of ‘AA-’ to the Group’s core operating subsidiaries.

Business operations and brands

1 IAG’s short tail personal insurance products are distributed in Victoria under the RACV brand, via a distribution relationship and underwriting joint venture with RACV. These products are distributed by RACV and manufactured by Insurance Manufacturers of Australia Pty Limited (IMA), which is 70% owned by IAG and 30% by RACV. 2 IAG owns 100% of WFI Insurance Limited (WFI), the underwriter of general insurance products under the Coles Insurance brand. These products are distributed by Coles under an authorised representative agreement with WFI.3 IAG owns 49% of the general insurance arm of Malaysian-based AmBank Group, AmGeneral Holdings Berhad (AmGeneral), which trades under the AmAssurance and Kurnia brands.4 IAG owns 26% of SBI General Insurance Company, a joint venture with State Bank of India.All ownership percentages as at 30 June 2018

Australian operations

IAG has leading market shares in personal and commercial insurance lines in Australia, with products sold under brands including NRMA Insurance, CGU, WFI, SGIO and SGIC. The business reported slightly higher gross written premium of $9.1 billion for the full year ended 30 June 2018, representing 79% of IAG's GWP.

ConsumerIAG is the largest personal lines insurer in Australia, offering short tail motor and home products across the country under a range of brands, as well as long tail CTP offerings in NSW, the ACT and South Australia.

BusinessIAG sells a range of commercial insurance products across Australia under the CGU, WFI, RACV, SGIO and SGIC brands, as well as niche products through brands such as Swann Insurance. IAG’s Business offering has a strong SME emphasis, and a leading market share in rural areas.

New Zealand operations

IAG is the leading general insurance provider in New Zealand across both the direct and intermediated channels. Insurance products are sold directly to customers predominantly under the State and AMI brands, and through intermediaries (insurance brokers and authorised representatives) predominantly under the NZI and Lumley Insurance brands. Personal lines and commercial products are also distributed under third party brands by IAG’s corporate partners, including large financial institutions.

New Zealand generated gross written premium of approximately $2.5 billion for the full year ended 30 June 2018, representing approximately 21% of IAG's GWP.

Our investments

At 30 June 2018, IAG's overall investment allocation remained conservatively positioned. At that date, IAG had: